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the new congress faces another looming showdown over the debt ceiling and possible spending cuts delayed under the fiscal cliff deal. john boehner addressed the debt thursday in his opening speech. >> as speaker, i pledge to listen and to do all i can to help all of you carry out your oath of office that we are all about to take. because in our hearts we know it is wrong to pass this debt onto our kids and grandkids, now we have to be willing, truly willing to make this problem right. >> house speaker john boehner faced a massive backlashes week after initially canceling a vote on relief for superstorm sandy. the house is expected to vote on the first round of aid today. gun-control advocates introduced legislation on the first day of the new congress to ban high- capacity ammunition magazines in recent -- used in recent massacres including the one at sandy hook last month. carolyn mccarthy of new york said the assault magazines help put the mass in that shooting and anything we can do to stop their proliferation will save lives in america. she lost her husband in a shooting on the long
the new congress faces another looming showdown over the debt ceiling and possible spending cuts delayed under the fiscal cliff deal. john boehner addressed the debt thursday in his opening speech. >> as speaker, i pledge to listen and to do all i can to help all of you carry out your oath of office that we are all about to take. because in our hearts we know it is wrong to pass this debt onto our kids and grandkids, now we have to be willing, truly willing to make this problem right....
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. >> eliot: with rest of house conservatives threatening to hold the debt ceiling hostage to force cuts in social problems, gridlock appears to be underway. for more on the state of the house, i'm joined by congressman jerry nadler, a good friend and congressman from new york. congratulations on starting this process all over again. good luck. >> thank you. we'll need it. >> eliot: you will, indeed. it was striking at the end when the fiscal cliff vote did occur. speaker boehner did something that some people actually admire. he brought the bill to the floor and got it passed with 85 republican votes and lot more democratic votes. what does that portend, do you think, for legislating as we go forward? is this the unique example that will somehow be the outliar or does this suggest some sort of convergence of interest is possible? >> i don't know. if we're going to get any kind of deals done that will stop government lurching from crisis to crisis, we're going to need to put together coalitions of democrats and republicans and you won't be able to allow the 75 or 100 hard right tea party
. >> eliot: with rest of house conservatives threatening to hold the debt ceiling hostage to force cuts in social problems, gridlock appears to be underway. for more on the state of the house, i'm joined by congressman jerry nadler, a good friend and congressman from new york. congratulations on starting this process all over again. good luck. >> thank you. we'll need it. >> eliot: you will, indeed. it was striking at the end when the fiscal cliff vote did occur. speaker...
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. >> reporter: the worry now is what wrangling in washington over spending cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less of an issue. >> reporter: still, there's ample concern about what the expiration of the payroll tax cut will mean for spending and ultimately hiring. don't forget all americans will see a smaller paycheck this year, because of that change. >> consumers aren't well poised to absorb a 2% tax increase and nonetheless that's what's going to happen, and it's going to keep us stuck in this slow growth territory. >> reporter: and, slow economic growth makes companies less confident about adding new workers. as a result, it
. >> reporter: the worry now is what wrangling in washington over spending cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a...
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in the senate, republicans vow not to raise the debt ceiling again unless congress cuts spending. >> the first step in this debate is for democrats to get over their fanatical commitment of spending every dime the government got its hands on. it has to stop. >> a future budget agreement must balance thoughtful spending reductions with taxes on the wealthiest among us. >> reporter: it is expected to hit its borrowing limit again in february, another fiscal cliff, round two, begins today. also on their agenda overhauling the tax code. tracie potts, nbc news, washington. >>> futures are down slightly ahead of big economic numbers due out today. toyota and audi want to let your car doing the driving for you. for more on that and the rest of your news before the bell, we turn to brian shactman live at cnbc world headquarters. good morning. >> reporter: good morning. futures have improved a bit. basically flat ahead of the big economic report of the day, the december jobs number. analysts expect another month of slow but steady growth but not enough to call it a turning point for the econo
in the senate, republicans vow not to raise the debt ceiling again unless congress cuts spending. >> the first step in this debate is for democrats to get over their fanatical commitment of spending every dime the government got its hands on. it has to stop. >> a future budget agreement must balance thoughtful spending reductions with taxes on the wealthiest among us. >> reporter: it is expected to hit its borrowing limit again in february, another fiscal cliff, round two,...
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ceiling and those seaquest ration spending cuts this shouldn't come as a major revelation so in the meantime from tax hikes to trillion dollar point ideas edward harrison is here to discuss what is likely to be the fallout from what he calls the fiscal cliff left and les miserables it is a hollywood blockbuster meant to show off a list actors singing chops or is it actually a valuable lesson in the economic misadventures of stated them very relevant today well jeffrey tucker argues the latter will hear why business week's cover feature is babies crying on capitol hill but what about a study that finds babies born during recessions are more likely to be delinquent teens no word on what happens if they get elected to office we'll have more in loose change plus we'll talk sped minutes an inflationary dragons' let's get to today's capital account. nouriel roubini has an op ed in the financial times today saying the deal reached in washington on new year's day kept the u.s. from falling off the you know what however given a dysfunctional nature of the american political system it won't b
ceiling and those seaquest ration spending cuts this shouldn't come as a major revelation so in the meantime from tax hikes to trillion dollar point ideas edward harrison is here to discuss what is likely to be the fallout from what he calls the fiscal cliff left and les miserables it is a hollywood blockbuster meant to show off a list actors singing chops or is it actually a valuable lesson in the economic misadventures of stated them very relevant today well jeffrey tucker argues the latter...
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of the government when the country to the debt ceiling. house speaker john boehner, despite rebellion g some conservatives, says that he hopes the new congress rise to meet the country's extraordinary challenges. tahman bradley, abc news, washington. >> 33 degrees on this friday morning. >> still ahead, if you thought favorite singer could hold a note. until you hear one of you were singing "hail to the redskins." >> and a decision on whether redskins." >> and a decision on whether -- google fav man: at turbotax, we know this is more than a paycheck. we know all the hammering, dg,ving, writing, nursing, and teaching it took to earn it. so we give you the power to keep as much of your hard-earned money as possible. our customized interview covers everything from a service member's deployment, to a student's loan interest, right down to a teacher's crayons. you've worked hard to earn your money. we're here to help you keep it. turbot t-- the power to keep what's yours. try it free at turbotax.com. haaaaaaaaaaaaaaaaaaaaa ail e]olding a not to
of the government when the country to the debt ceiling. house speaker john boehner, despite rebellion g some conservatives, says that he hopes the new congress rise to meet the country's extraordinary challenges. tahman bradley, abc news, washington. >> 33 degrees on this friday morning. >> still ahead, if you thought favorite singer could hold a note. until you hear one of you were singing "hail to the redskins." >> and a decision on whether redskins." >>...
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ceiling, and dealing with spending cuts that could include negotiations over programs like medicare. lester? >> all right, kelly, thanks. >>> one new member of congress, the junior senator from the state of maine, is already making a name for himself. tom brokaw is here tonight with more on a man who says he wants to do the people's business in a better way than we've seen lately. hi, tom. >> lester, we don't often think of maine and royalty in the same sentence. but tonight i am reporting on the king of maine. that would be angus king, near republican or democrat, officially independent. a former two-term governor, he promised a new approach. and it paid off. >> i do. >> my favorite line from the campaign is a guy up north who said "all my life i've wanted a chance to vote for none of the above and you're it." >> it's been difficult to envision this day when i would be saying farewell -- >> reporter: king is replacing olympia snow, a respected republican senator who quit in frustration over washington's deadlocked ways. >> she said, i can't make it work. my thinking was, well, we ha
ceiling, and dealing with spending cuts that could include negotiations over programs like medicare. lester? >> all right, kelly, thanks. >>> one new member of congress, the junior senator from the state of maine, is already making a name for himself. tom brokaw is here tonight with more on a man who says he wants to do the people's business in a better way than we've seen lately. hi, tom. >> lester, we don't often think of maine and royalty in the same sentence. but...
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ceiling and when the automatic spending cuts come into play again, and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. and, the fact of the problem of $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry t
ceiling and when the automatic spending cuts come into play again, and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal...
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democrats and republicans are set to duke it out over the debt ceiling, spending cuts and then the budget. just like the fiscal cliff, all of those other cliffs will give birth to more tired and overused political metaphors. i will kick this can to christine romans to explain. >> reporter: just like the yodeler on "the price is right" we did fall off a cliff, a metaphor cliff. >> the fiscal cliff. >> or maybe not. cue julie andrews in the sound of music. >> it is more of a slope. >> it is kind of a slope. >> reporter: hill, cliff, slope, be honest it felt more like this. >> this place is starting to have the feel of the movie "ground hogs day." >> at least the movie made you laugh. this was more like "the hurt locker." >> congress set this time bomb and now they are scrambling to diffuse it. >> reporter: in the end the cliff, slope, bomb, groundhog day became a bill and a new metaphor. >> kick the can down the road. >> kicking that can. >> kicking the can. >> we are done with kicking this can down the road. we grabbed that can and that can is called spending cuts. >> reporter: we're not b
democrats and republicans are set to duke it out over the debt ceiling, spending cuts and then the budget. just like the fiscal cliff, all of those other cliffs will give birth to more tired and overused political metaphors. i will kick this can to christine romans to explain. >> reporter: just like the yodeler on "the price is right" we did fall off a cliff, a metaphor cliff. >> the fiscal cliff. >> or maybe not. cue julie andrews in the sound of music. >> it...
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and the debt ceiling. the president's top economists saying that the resolution of the first part of the fiscal cliff extending the bush tax cuts for most families should help economic growth and job creation by keeping more money in consumers' pockets for consumer spending. now he says republicans need to act on part 2 of the fiscal quick, raising the debt ceiling. >> one of the reasons it is important congress resolve the issues that were left unresolved in the taxpayer relief act is the economy will do better if we address the issues like the debt ceiling without drama. peter: republicans are saying today's jobs report shows washington needs to reduce spending and deficits to boost economic growth and job creation. john boehner out with the statement saying all of that, the drag on quote the house will pass real spending cuts, meaningful reforms of entitlement programs that are driving us deeper into debt and a fairer, clean air tax code. cheryl: were you surprised? he sounded like he is truly saying th
and the debt ceiling. the president's top economists saying that the resolution of the first part of the fiscal cliff extending the bush tax cuts for most families should help economic growth and job creation by keeping more money in consumers' pockets for consumer spending. now he says republicans need to act on part 2 of the fiscal quick, raising the debt ceiling. >> one of the reasons it is important congress resolve the issues that were left unresolved in the taxpayer relief act is...
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ceiling and when the automatic spending cuts come into play again and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. that's scary. and, the fact of the problem of $2 trillion solutions to $60 $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in
ceiling and when the automatic spending cuts come into play again and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal...
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debt ceiling limit. but it looks like president obama will be going into this fight with a new treasury secretary. treasure secretary timothy geithner, a major player in the budget and the debt ceiling has made it clear he wants out after the inauguration. a treasury official says treasury secretary geithner had previously stated he plans to be around until the inauguration. he told the president he wanted to leave in mid-2011. he stayed through the november re-election at president obama's request but has made no secret of his intention to leave before the next round is complete. >> have you agreed to stay until march or april? >> i have agreed to stay until mid-january. and i think the president is going to have a successor in place who can serve him for four years. >> reporter: it comes as the white house faces huge fiscal challenges in the next three months and republicans in congress are battling over spending cuts and entitlement reform. >> the big battle is yet to come, and it's over the debt ceil
debt ceiling limit. but it looks like president obama will be going into this fight with a new treasury secretary. treasure secretary timothy geithner, a major player in the budget and the debt ceiling has made it clear he wants out after the inauguration. a treasury official says treasury secretary geithner had previously stated he plans to be around until the inauguration. he told the president he wanted to leave in mid-2011. he stayed through the november re-election at president obama's...
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you've got to raise the debt ceiling by the end of february. are they going to be able to do this and right now i don't see much difference. i hate to be such a pessimist. i think we're going to go down to the same kind of mess, the last minute of the last hour of the last day to get this stuff settled. it's just not the way a super power should be running its business, but it seems to be the way we do things around here. >> virginia's tim kaine, newly elected senator, says hey, we've got 15 new members on the senate side that. will change the dynamic. you don't seem to think that's likely? >> well, i don't know. maybe so. maybe they'll come in with some kind of super powers that we don't know about, but i have to just judge by what i've seen and what i see coming and will this congress have the political will to do what's necessary? the people around here still -- do people around here still know how to make a deal? i'm not sure that they do. i think some of these arts may have been lost somewhere along the way. i hope i'm totally wrong about
you've got to raise the debt ceiling by the end of february. are they going to be able to do this and right now i don't see much difference. i hate to be such a pessimist. i think we're going to go down to the same kind of mess, the last minute of the last hour of the last day to get this stuff settled. it's just not the way a super power should be running its business, but it seems to be the way we do things around here. >> virginia's tim kaine, newly elected senator, says hey, we've got...
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. >> we do have the debt ceiling issue otherwise we'll have sequestration. >> these automatic cuts, you can move the goal posts. >> well, i believe that 1.2 trillion is a good goal to cut over the next ten years. the fact that we-- >> and that's a rounding error, that's a rounding error worth of medicare. >> 10% off of everything, i mean, there are actual programs where i would like to eliminate and i would like to try to keep other programs, so, that's important. but you know, there were a couple of things that happened in this deal that we made. first of all, he yes, taxes will go up on those people who as a couple make $450,000, some capital gains and dividend will go up some percentage, but i want to thank those people because they're some of the first to put something on the table and i don't think we should demonize them as the wealthy, it's a great thing if you grow up in america or come to america and strive to make a business or do something or have an idea to become successful and you happen to make money from it, it's even greater and that's what makes america. and so, those
. >> we do have the debt ceiling issue otherwise we'll have sequestration. >> these automatic cuts, you can move the goal posts. >> well, i believe that 1.2 trillion is a good goal to cut over the next ten years. the fact that we-- >> and that's a rounding error, that's a rounding error worth of medicare. >> 10% off of everything, i mean, there are actual programs where i would like to eliminate and i would like to try to keep other programs, so, that's important....
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look sequestration was put on the table through the last debt ceiling debate. do you know how much we have cut as a result of that? nothing. it's time for us to be serious and for republicans to be serious about cutting spending. >> steve, the senators in the democratic senate do not want to cut any spending or entitlements and that spending sequester which was postponed for two months will probably be postponed for another six months or another six years. maybe they'll cut $1.35 out of something, but that's the reality. nothing is going to get cut. >> well, larry, the truth is i don't think there are many politicians that want to cut spending or they could pass a pill to do so tomorrow and the house and the senate could pass a bill and take it to the president. in all likelihood if you got something that was passed in both houses the president would sign it. but nobody up there is serious about deficit reduction. i agree with kate. look at how well it worked out for newt gingrich. this is something that the republicans would be blamed for. if they do it, they'
look sequestration was put on the table through the last debt ceiling debate. do you know how much we have cut as a result of that? nothing. it's time for us to be serious and for republicans to be serious about cutting spending. >> steve, the senators in the democratic senate do not want to cut any spending or entitlements and that spending sequester which was postponed for two months will probably be postponed for another six months or another six years. maybe they'll cut $1.35 out of...
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. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> leverage? this is a battle about real people. real americans. the gop's willing to take this couns country hostage. and for ransom, they want massive cuts to programs americans need to survive. threatening to take the economy is not lev rarj. it's stupidity. joining me now is chris hays, host of "up with chris hayes" here on msnbc. thank you both for being here this evening. >>> melissa, here we go again. the gop has a strategy to hold the economy hostage. does that make any political sense? >> it does for them. look, we heard it from ryan directly. which is we are without real political power, right? they've got a majority in the house, but exclusive there. there are three branchs of government, they are one house and three branchs and minority overall in the government. so what they have to deal with are not real chips. what they have are these sort of moments, these opportunities that emerge. and, so, for them, political, the idea is, okay, debt ceiling should be a no-brainer. it should be e
. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> leverage? this is a battle about real people. real americans. the gop's willing to take this couns country hostage. and for ransom, they want massive cuts to programs americans need to survive. threatening to take the economy is not lev rarj. it's stupidity. joining me now is chris hays, host of "up with chris hayes" here on msnbc. thank you both for being here this evening. >>>...
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will republicans be able to force spending cuts in exchange for lifting the debt ceiling? that's next. >>> plus don't file your 2012 tax return just yet. the irs might not be ready for it. gerri willis explains coming up. we'll get into that. first as we do at this time every day let's take a look how oil is trading, again reflecting the market's, well, modest reactions today, drifting slightly lower almost unchanged at 92.89 a barrel. we'll be right back. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. ashley: the battle for the fiscal cliff is over. whew. let's move onto the next cliff. u.s. is set to hit the debt ceiling in about two months and the big question will the new congress do better with deadlines than the old once. i will give you an answer and my next guest is cautiously optimistic. here is allison fraz
will republicans be able to force spending cuts in exchange for lifting the debt ceiling? that's next. >>> plus don't file your 2012 tax return just yet. the irs might not be ready for it. gerri willis explains coming up. we'll get into that. first as we do at this time every day let's take a look how oil is trading, again reflecting the market's, well, modest reactions today, drifting slightly lower almost unchanged at 92.89 a barrel. we'll be right back. ♪ [ cows moo ] [ sizzling ]...
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ceiling as a way of extracting more concessions with regard to spending cuts. some of the spending cuts, as i said, particularly with regard to infrastructure and safety net programs, programs for the poor, are very critical for the future. >> brown: doug holtz-eakin, i guess there's consensus there's more to come, right? >> no question, we got a mixed bag. it got us past theliff and the biggest thing is addition by subtraction. we have a recession, that's the best news. for 98% of the taxpayers it gave them a permanent current tax law and took uncertainty out. but from another perspective it wasn't very brave. in the end we taxed rich people to spend on the current programs and we kicked down the road cutting any new ones so it really wasn't a solution to the debt and it was not a great solution to avoiding a recession. >> pelley: so you start us looking -- picking up on looking forward where robert reich started already and so did maya. but the debt issues, the debt limit issue, that's the next thing to come. >> the next thick to come isn't dealing with the d
ceiling as a way of extracting more concessions with regard to spending cuts. some of the spending cuts, as i said, particularly with regard to infrastructure and safety net programs, programs for the poor, are very critical for the future. >> brown: doug holtz-eakin, i guess there's consensus there's more to come, right? >> no question, we got a mixed bag. it got us past theliff and the biggest thing is addition by subtraction. we have a recession, that's the best news. for 98% of...
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they are going into this debt ceiling debate, though saying we the u.s. -- if we don't cut spending to an equivalent amount, that we're in danger of turning go greece. here is the senator quote . . . so let me -- let me just ask you about that, though. because people often compare the u.s. to greece if in fact we don't slash spending. is that a realistic concern? >> no, for a variety of reasons. first of all greece has been in default about 50% of the time over the last 150 years. the u.s. has never defaulted. number 2, the u.s. government is borrowing at near historic low rates about 1.9% on a ten-year treasury bond. the greek government is borrowing at i think around ten right now, but some time during the past year the cost for greek borrowing on a ten-year basis was in the 40% range. so the rest of the world is saying to us, we believe your economy is strong. we believe you can easily adjust your spending and revenue lines over time to handle that long-term debt problem that is out there. right now the debt to gdp ratio in the u.s. is around 70. in greece it is around 150. >> jenni
they are going into this debt ceiling debate, though saying we the u.s. -- if we don't cut spending to an equivalent amount, that we're in danger of turning go greece. here is the senator quote . . . so let me -- let me just ask you about that, though. because people often compare the u.s. to greece if in fact we don't slash spending. is that a realistic concern? >> no, for a variety of reasons. first of all greece has been in default about 50% of the time over the last 150 years. the...
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neil: they said, you just watch neil debt ceiling comes up we'll get serious then are we? >> it is already to get -- it is going to be hard to get cuts, what washington does not want to do is cut any. anything. republicans lost their mojo as they went along, obama said, if you hold this up, i am going to point a finger at you, the republicans should have said fine. what are your ideas? that never came through. neil: steve, you wanted mitt romney to win, but was the election take away that morning said no to cutting down government because democrats seem to be behaving by demanding that en tightments -- entitlements are off the table. what do you think? >> no, the republicans won the house. and they control the house, and republicans did that because they want to cut spending. i think that american impeachment, fundamentally in the heartland, in small, understand we have a revenue issue here, and a spinning issue in the country. already, we try revenue thing that is we drove off the cliff, and they you know threw them a bone with some revenue, now the spending cuts have to
neil: they said, you just watch neil debt ceiling comes up we'll get serious then are we? >> it is already to get -- it is going to be hard to get cuts, what washington does not want to do is cut any. anything. republicans lost their mojo as they went along, obama said, if you hold this up, i am going to point a finger at you, the republicans should have said fine. what are your ideas? that never came through. neil: steve, you wanted mitt romney to win, but was the election take away that...
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. >> the debt ceiling wants a blank check cut to him. he would make it so that he could say whatever he want and there were no limits on the debt. he set this matter up. >> under the constitution, only the congress can send money. the senator and colleagues voted for the debt and we must pay it. the president is exactly right. it should be non-negotiateiable to pay the lebts. that should be nonnegotiable. >> congress and the house and the senate have been raising the debt ceiling according to the law to keep it going. dozens and dozens of times. we had no debt ceiling. >> congress every few years, every two or years was forced to raise the debt. last time it was a big deal. >> it has been for a while now. even president obama voted against raising the debt. >> that was shameful. he now said he regrets that. i'm with you. he should have never cast that vote. america must pay its bills. those are not obama's debts. >> if the president holds to what he is saying, i am not negotiating and the republicans are not going to raise it unless we c
. >> the debt ceiling wants a blank check cut to him. he would make it so that he could say whatever he want and there were no limits on the debt. he set this matter up. >> under the constitution, only the congress can send money. the senator and colleagues voted for the debt and we must pay it. the president is exactly right. it should be non-negotiateiable to pay the lebts. that should be nonnegotiable. >> congress and the house and the senate have been raising the debt...
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act. >> reporter: raising the debt ceiling in the next few weeks will be another showdown. house speaker boehner told the republican conference friday he'll use that as leverage for more spending cuts. >> that will definitely be a battle between house speaker boehner and president obama. president obama has already said he's not getting into that debate. jennifer johnson, capitol hill, news4. >>> a water-rich meteorite helped researchers prove that there could be life on mars. the rock, which was formed 2.1 billion years ago has ten times more water than any other martian meteorite. it's been nicknamed black butty and weigh being 11 ounces. >>> the parking lout -- that shows you the tail gaiters there, four hours before the game. this week will be a great day. if you're thinking about heads out this evening, you will need the colts. it's been blowing toward the north all day long, but starting to move into the rest of the region. we're starting to see windchills really dropping. 46 was the high, above the average high of 43. that coming after a low of 27 this morning. the c
act. >> reporter: raising the debt ceiling in the next few weeks will be another showdown. house speaker boehner told the republican conference friday he'll use that as leverage for more spending cuts. >> that will definitely be a battle between house speaker boehner and president obama. president obama has already said he's not getting into that debate. jennifer johnson, capitol hill, news4. >>> a water-rich meteorite helped researchers prove that there could be life on...
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act. >> reporter: raising the debt ceiling in the next few weeks will be another showdown as speaker boehner told the republican conference friday he'll use that as leverage for more spending cuts. >> that would be a battle. the president has already said he will not debate with congress to pay bills it's already racked up. live on capitol hill i'm jennifer johnson. jim and wendy, back to you. >>> we're just getting started here at 4:00. we have a preview of some of the best flicks coming to the silver screen in the next few weeks. >>> and congresswoman nancy pelosi is doing moonlighting. >>> after popular demand the during the time first lady michelle obam wore is now on sale where you can buy what was a one of a kind gown. (woman) 3 days of walking to give a break cancer survivor a lifetime-- that's definitely a fair trade. whoo! you walk with friends, you meet new friends, and you keep those friendships. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful ♪ undeniable (woman) why walk 60 miles in the boldest breast cancer event in history? because everyone d
act. >> reporter: raising the debt ceiling in the next few weeks will be another showdown as speaker boehner told the republican conference friday he'll use that as leverage for more spending cuts. >> that would be a battle. the president has already said he will not debate with congress to pay bills it's already racked up. live on capitol hill i'm jennifer johnson. jim and wendy, back to you. >>> we're just getting started here at 4:00. we have a preview of some of the...
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. >> the cuts will have to be dealt within just two months and the government could hit the debt ceiling. it would make the last couple weeks look like peace and harmony in comparison. >> and there are now 20 female senators, most ever in u.s. histry. diane sawyer sits down of 19 of them for an interview tonight at 5:30. >> still ahead, you'll want to see this play by play description from a very young sportscaster going viral. she's correct. the preschooler that gets it right. >> a soon to be setting sun from our camera. i'm spencer christian ask will have the accu-weather forecast coming up. >> and taking a look at traffic right now, on the bay bridge toll plaza, it's very easy to mick your way into san francisco. if you >>> this is cute. we've heard of arm chair quarterbacks and experts are getting younger and younger. one is making herma]zóy around you tube. michigan, south carolina. michigan needed four yards late in the outback bowl. you can see the runner came close to getting the yellow line and reaching it. but was just short. officials asked for a measurement. and it was two i
. >> the cuts will have to be dealt within just two months and the government could hit the debt ceiling. it would make the last couple weeks look like peace and harmony in comparison. >> and there are now 20 female senators, most ever in u.s. histry. diane sawyer sits down of 19 of them for an interview tonight at 5:30. >> still ahead, you'll want to see this play by play description from a very young sportscaster going viral. she's correct. the preschooler that gets it...
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and the possible default of the government when the country reaches the debt ceiling. house speaker john boehner, who was re-elected, despite rebellion among some conservatives, says he hopes the new congress will rise to meet the country's extraordinary challenges. rob and paula? >> only time will tell. should be interesting, as always. tahman bradley, live in washington. thanks, tahman. >>> and there was a moment of bipartisanship, believe it or not. dozens of democrats and republicans, cheering on illinois senator, mark kirk. nearly a year after suffering a major stroke, kirk made the slow climb to the front door of the senate, with a little help from the v.p. and another colleague. he conquered all 45 steps. we'll take a look at some of the other memorable moments, coming up in just a minute. >>> and a special visitor comes to newtown, connecticut, today. former congresswoman gabby giffords is meeting with families of the 26 school attack victims. meantime, the school's children head back to class for their second day today in a new building, amid very tight securi
and the possible default of the government when the country reaches the debt ceiling. house speaker john boehner, who was re-elected, despite rebellion among some conservatives, says he hopes the new congress will rise to meet the country's extraordinary challenges. rob and paula? >> only time will tell. should be interesting, as always. tahman bradley, live in washington. thanks, tahman. >>> and there was a moment of bipartisanship, believe it or not. dozens of democrats and...
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draw the line in the sand there, but it coincides almost completely with the debt ceiling. it's going to all be wrapped up into one. >> no coincidence why they set the deadline that they did to delay the sequestration by amount of time. it takes us to the debt ceiling which is where the republicans want to go so that they can use that as leverage. what other leverage is anybody going to have to try to get a spending cut done? >> i wish he had been more specific to say, we asked him repeatedly, if you don't get enough cuts from the president should you take the sequester instead? he didn't really give us a good answer, right? >> he thought rational minds should prevail and they should have a thoughtful conversation about what cuts should actually happen. he's right, but it hasn't happened. >> he's absolutely right. >> it never happens. >> so many rational thinking people that come here and say the very same thing, but we don't make the laws. >> and we don't elect them? >> we did elect them. >> i know. >> as a whole. >> it's just proof that congress has very different incenti
draw the line in the sand there, but it coincides almost completely with the debt ceiling. it's going to all be wrapped up into one. >> no coincidence why they set the deadline that they did to delay the sequestration by amount of time. it takes us to the debt ceiling which is where the republicans want to go so that they can use that as leverage. what other leverage is anybody going to have to try to get a spending cut done? >> i wish he had been more specific to say, we asked him...
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. >> but with the debt ceiling and deep spending cuts looming and a budget crisis coming up, will congress get more done than its predecessor? steve la tourette, chair of a republican advocacy group. he was a republican senator from ohio. you get the sense he's glad to be gone. >> i didn't think this is what retirement looked like, though. >> i have to start out by asking, yesterday a rather interesting day on the house floor. former colleagues re-elected speaker boehner as speaker of the house. there were a number of members, more than 10, who either didn't vote or voted against him. what do you make of the statement they were delivering? what do you think they were saying? >> it is not horribly unusual, it's the fourth time it's happened in my time here in washington. the first one with newt gingrich and then nancy pelosi lost some of her members and jim trafficant voted for dennis hastert. it's really not a good way to start your career. >> you talk about how you weren't expecting retirement to look like this, congressman. let me point out this fun tweet from "the washington post." "ste
. >> but with the debt ceiling and deep spending cuts looming and a budget crisis coming up, will congress get more done than its predecessor? steve la tourette, chair of a republican advocacy group. he was a republican senator from ohio. you get the sense he's glad to be gone. >> i didn't think this is what retirement looked like, though. >> i have to start out by asking, yesterday a rather interesting day on the house floor. former colleagues re-elected speaker boehner as...
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and the policies default of the government when we reach the debt ceiling. >> house speaker boehner who was reemelected to house speaker despite rebellion among some conservatives hopes the congress can rise to meet the exceptional challenges. >> before you go, the first vote provides resources for flood insurance but that is just a small piece, right? the prosecute of the relief, what about that? >> the speak speaker says congress will take that up january 15, he wants to make a downpayment on some of the money and come back with another vote in a couple of weeks. >> thank you for that report. >> federally mandated improvement project shuts down a runway at san francisco international airport for three weekends this month. it will cut the hourly number of flights in half. it could result in delays for delights in a two hour radius of the airport. crews will install upgrades including new lighting systems and navigation aids. the first closure begins next friday. >> we have not seen so many delays because of weather, right, because it has been clear and dry. >> the cold does not sto
and the policies default of the government when we reach the debt ceiling. >> house speaker boehner who was reemelected to house speaker despite rebellion among some conservatives hopes the congress can rise to meet the exceptional challenges. >> before you go, the first vote provides resources for flood insurance but that is just a small piece, right? the prosecute of the relief, what about that? >> the speak speaker says congress will take that up january 15, he wants to...
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we're running up against the debt ceiling. it could be even nastier fight we just saw. democrats say they won't deal on debt limit what they did in the summer of 2011. republicans say, no this is what when we have to cut our spending and get our finances in order and how they resolve this in the next two months will be a very interesting dynamic to watch. in terms of actual tone and the nature of the congress, you've got a lot of democrats will say, you've gotten rid some of the tea party fire brand republicans as they call them and hopefully that would make for more cooperative environment. there are a lot of new members of the congress are elected, they really ran on being cooperative, bipartisan, being problem solvers. it's so divided congress, we've got a democratic senate and we've got a republican house who really don't see eye on eye on much of anything. i'm not convinced at this point that very partisan nature of congress that we saw for the next two years will be too different now. host: let's look at the members and how they voted and the key that we're lookin
we're running up against the debt ceiling. it could be even nastier fight we just saw. democrats say they won't deal on debt limit what they did in the summer of 2011. republicans say, no this is what when we have to cut our spending and get our finances in order and how they resolve this in the next two months will be a very interesting dynamic to watch. in terms of actual tone and the nature of the congress, you've got a lot of democrats will say, you've gotten rid some of the tea party fire...
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around the same time, the government will hit the debt ceiling. the looming battle over those two issues might make the last couple of weeks in washington seem like peace and harmony in comparison. rob and paula, back to you. >> thanks, karen. the day was supposed to be about the lawmakers, but one had the spotlight stolen. new york senator kirsten gillibrand's photo op with the vp didn't go as planned. her cute little son decided it was time to mess up mommy's hair. >> if he had touched biden's hair, that would have been funny. >> i don't think it would have moved. >>> secretary of state hillary clinton actually plans to be back at work next week. she left a new york hospital on wednesday and is now resting at her suburban home. a state department spokesman says she's talking to staff and looking forward to resuming her official duties. she will not be making any overseas trips, at least for the time being, as she continues to recover from that blood clot near her brain. >>> it's day two back in school for the children of sandy hook elementary sc
around the same time, the government will hit the debt ceiling. the looming battle over those two issues might make the last couple of weeks in washington seem like peace and harmony in comparison. rob and paula, back to you. >> thanks, karen. the day was supposed to be about the lawmakers, but one had the spotlight stolen. new york senator kirsten gillibrand's photo op with the vp didn't go as planned. her cute little son decided it was time to mess up mommy's hair. >> if he had...
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president obama has said he's not going to have a debate with congress over raising the debt ceiling and making sure america can pay its bills, but as we saw the last time, that's not really up to the president. >> yeah, now, first thing's first, the house taking up the sandy aid bill today. how is this different than what they've considered before or haven't considered before? >> well, the thing is the senate already passed a bill. what the house is doing is breaking it into two pieces. after they reached that big deal to avert the fiscal cliff, postpone it, really, a lot of house republicans, especially from new york and new jersey, were angry the speaker did not put on the floor a vote for sandy aid for these relief victims. they're going to vote later this morning on a bill. about $9 billion for the national flood insurance program. that's to be able to give money to that program so it doesn't run out. fema has said that money would run out starting next week at some point. the idea is to vote on that today and then on january 15th they'll vote on another $51 billion in general a
president obama has said he's not going to have a debate with congress over raising the debt ceiling and making sure america can pay its bills, but as we saw the last time, that's not really up to the president. >> yeah, now, first thing's first, the house taking up the sandy aid bill today. how is this different than what they've considered before or haven't considered before? >> well, the thing is the senate already passed a bill. what the house is doing is breaking it into two...
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we expect, of course, a vigorous debate over the debt ceiling. by late february and early march they have to decide whether or not to raise the ceiling or risk economic chaos. the automatic spending cuts put off this week will hit march 1st. the deal only delayed them, so it didn't really solve the problem. funding for the government runs out on march 27th unless a new revenue bill is passed. >>> with all that is coming up, we want to bring in alison kosik in the new york stock exchange to talk about how people are reacting to the news. we know there's a higher payroll tax everybody got hit with here, but there were some breaks for a lot of families. so how does it balance out? >> here's some of the positive that came out of all that political posturing. the fiscal cliff deal did include some savings for families and in some cases it could amount it to thousands of dollars. these are mostly for low income families. the first one out of this is it preserved the child tax credit. that's about $1,000 credit per chi child. this is for people going to
we expect, of course, a vigorous debate over the debt ceiling. by late february and early march they have to decide whether or not to raise the ceiling or risk economic chaos. the automatic spending cuts put off this week will hit march 1st. the deal only delayed them, so it didn't really solve the problem. funding for the government runs out on march 27th unless a new revenue bill is passed. >>> with all that is coming up, we want to bring in alison kosik in the new york stock...
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ceiling increase should be presented and say no we are not going to negotiate it all? >> i don't think democrats are saying we don't have spending cuts as the basis of your question. we have only reached over a trillion dollars in cuts in the budget control act. so we all know how we proceed has to be in three parts, revenue to reduce the deficit, growth to bring money into the treasury and cuts and establishing a were priorities in a way that does not harm our future growth for example the cuts in education and investments and innovation which i think are a false economy because they do reduce the possibility for growth rather than increase it. so i don't hear -- none of us is saying we are not going to talk about spending cuts. >> typically they are indicating now that they still want larger than any ever debt limit increase. >> i think that is a complete manifestation of the philosophy that is at work on the republican side. if you do not believe in the public role, if you do not heed the call of president washington that a political party shouldn't be at war with o
ceiling increase should be presented and say no we are not going to negotiate it all? >> i don't think democrats are saying we don't have spending cuts as the basis of your question. we have only reached over a trillion dollars in cuts in the budget control act. so we all know how we proceed has to be in three parts, revenue to reduce the deficit, growth to bring money into the treasury and cuts and establishing a were priorities in a way that does not harm our future growth for example...
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the debt ceiling. so was there an impact, and then, will we see an impact in the next couple of months? >> i did not see a dramatic impact in this job report. i mean, if you look at the unemployment rate, it stayed about the same. what i do think is really important is that we continue to move forward, because we still have unfinished business in terms of infrastructure, job development in areas that are still needed, like construction, continuing our work in manufacturing, and renewable energy. and also addressing other issues that need to be taken care of. do we keep our eye off the ball? no, we keep moving forward and making those investments and encouraging small business to continue to push up. that's why the president pushed for r & d, research and development, and giving incentives for business toss do the right thing and get involved in new types of industries. green industries, technological industries, things like that. >> sure. >> i'm encouraged. i'm encouraged. but you know, it takes two pa
the debt ceiling. so was there an impact, and then, will we see an impact in the next couple of months? >> i did not see a dramatic impact in this job report. i mean, if you look at the unemployment rate, it stayed about the same. what i do think is really important is that we continue to move forward, because we still have unfinished business in terms of infrastructure, job development in areas that are still needed, like construction, continuing our work in manufacturing, and renewable...
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the debt ceiling is also huge and the president wants an automatic credit card. he's not going to get it from the congress. >> thank you, sir. >> thanks. arthur brooks is coming up right after the break. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-800-836-8799. >>> the countdown to the jobs report. we are talking to leading experts on what this crucial indicator mean
the debt ceiling is also huge and the president wants an automatic credit card. he's not going to get it from the congress. >> thank you, sir. >> thanks. arthur brooks is coming up right after the break. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even...
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. >> 72% of the debt camerican people think the debt ceiling talk should be accompanied by spending cuts. >> democrats are not saying we are not having spending cuts. we have all agreed to over $1 trillion in cuts in the budget control act. we all know this has to be in three parts -- revenue to reduce the deficit, growth to bring money into the treasury, and cuts in establishing our priorities in a way that does not harm our future growth. for example, cuts in education and investment in innovation which i think are a false economy because they reduce the possibilities for growth rather than increase them. none of us is saying we will not talk about spending cuts. >> it has said -- it has been set up as the republicans want bigger spending cuts. >> i think that is a complete manifestation of the philosophy at work on the republican side. if you do not believe in a public role, if you do not heed the call of president washington that a political party should not be at war with their own government, then you would disagree with what the republicans are doing. they deem to the ryan budget
. >> 72% of the debt camerican people think the debt ceiling talk should be accompanied by spending cuts. >> democrats are not saying we are not having spending cuts. we have all agreed to over $1 trillion in cuts in the budget control act. we all know this has to be in three parts -- revenue to reduce the deficit, growth to bring money into the treasury, and cuts in establishing our priorities in a way that does not harm our future growth. for example, cuts in education and...